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Obama promises to boost nuclear power January 29, 2010

Posted by cleanidahoenergy in balanced approach, Barack Obama, economic benefits, Energy policy, Politics and nuclear, President Obama.
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President Obama appears to be warming to nuclear power in a big way. In his state of the union speech this week, he said “to create more of these clean energy jobs, we need more production, more efficiency, more incentives. And that means building a new generation of safe, clean nuclear power plants in this country.”

Obama stated his support for nuclear power while campaigning, and several times since then. Today, however, his administration said it will press for $54 billion in new loan guarantees for new plants. Loan guarantees have proven the least costly form of energy assistance – so far, the government hasn’t had to pay any for nuclear plants – and give private investors some assurance. That’s needed in the face of excessive and unreasonable opposition to nuclear power, which drives up costs.

Last week, Obama issued an executive order to reduce national greenhouse gas emissions 28 percent by 2020. The only way to do that and keep our economy healthy is with an all-of-the-above approach embracing conservation, renewables, clean fossil and nuclear.

Obama appears to be backing up his words with specific financial proposals and that is most welcome. Another $54 billion would greatly assist utilities and private investors companies, such as ours, move forward on our plans to keep clean, reliable, secure nuclear energy a vital part of America’s infrastructure.

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